The victims, students of class X and XII, met the watery grave when they had gone to a temple in Asah to celebrate their success in the examination, the results of which were announced two-days back.
After offering prayers, they decided to take a bath in Chambal river near the temple and were trapped in deep waters following which they drowned, police said.
Till afternoon, three bodies were fished out from the river, police said. They were identified as Gaurav Tomar, Rahul Gurjar and Bhura Gurjar.
Ambah's Sub Divisional Magistrate (SDM) M L Sisodia said three victims were from Bhaktapura village, while two others were from Asah.